To read this full article you need to be subscribed to Newsline.Sign in Sign up for a FREE subscription
Harbert fund holds $400m final close
Harbert United States Real Estate Fund V, a value-added/opportunistic fund managed by Harbert Management Corp., has held a $400 million final close, surpassing its $300 million target. Investors include institutional investors from across the United States and Europe.
The final close represents the largest close for a Harbert real estate fund to date.
Consistent with the predecessor funds, HUSREF V seeks to assemble a diverse portfolio of undervalued, fundamentally sound apartment, office, retail and industrial real estate in primary and secondary non-gateway cities.
HUSREF V has already invested and committed approximately $100 million across eight transactions creating a geographically diverse portfolio of multifamily and office assets. HUSREF V made its first investment in December 2012.
In March 2014, HUSREF V in conjunction with